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DBS toppled by Bank Central Asia as region's largest bank
[SINGAPORE] Bank Central Asia, controlled by Indonesia's second-richest person, Budi Hartono, overtook DBS Group Holdings Ltd this month as Southeast Asia's largest lender by value, with a market capitalisation of US$24.5 billion.
The Jakarta-based bank's shares have continued to rise this year as its Indonesia focus shields it from slowing growth in Greater China. DBS is Singapore's biggest bank.